What happened in June?
New listings were down slightly in June, after a very busy May that saw nearly 100 new listings. While there was an identical number of new residential listings (houses & condos) in June, there were fewer new land listings (after nearly 30 new lot listings hit the market in May). The median new listing price for houses and condos increased to $1.9 million, while the median price for new lot listings stayed the same at $1.375 million. Buyers are acting fast, as nearly 40% of the new June inventory is already under contract.
Thinking of selling your property?
Now is a great time to list your home. Not only is the grass green and the flowers blooming, but buyers have shown they are ready to move quickly on desirable opportunities.
Real Estate Sales were up in June for the 4th month in a row, reaching the highest monthly sales figure so far in 2018. Despite a increase in total dollar volume, the average sales price was down slightly from May. Properties continue to sell close to listing prices, with sales prices averaging 97% of list for 5 of the first 6 months of 2018. Only one property sold for under $500,000 in June, a 2 bedroom condo in the Town of Jackson, which sold quickly for $450,000. Despite the fact that over 80 new lot listings have hit the market since January, there were only 3 land sales in June, including a half acre lot on Fish Creek in Wilson, which sold above the listing price at $1,400,000.